Latest Newsletters & Newsflashes
Jan 26, 2024CSSF 2023 Survey on Financial Crime
In a press release dated 22 November 2023, the CSSF announced its 2023 Financial Crime Survey (" 2023 Survey") will start on 19 February 2024. Scope of application All financial professionals and entities subject to the supervision of the CSSF are required to participate in the 2023 Survey. The aim
Jan 26, 2024ESAs final report on the review of SFDR Delegated Regulation
On 4 December 2023, the European Supervisory Authorities (“ ESAs”) published a final report setting out proposals to amend the draft regulatory technical standards (“ RTS”) to Commission Delegated Regulation 2022/1288 (the “ SFDR Delegated Regulation”). The final report responds to a mandate sent by
Jan 25, 2024Recap on the entry into force of the EU Foreign Subsidies Regulation
Introductory note Regulation 2022/2560 on foreign subsidies distorting the internal market was adopted on 23 December 2022 and entered into force on 12 July 2023 (the " Regulation"). Nonetheless, certain of its provisions, relating, in particular, to the involvement of national officials in
Jan 25, 2024Securitisation | Recent regulatory developments
New technical standards on risk retention requirements for securitisation On 19 October 2023, Commission Delegated Regulation (EU) 2023/2175 of 7 July 2023 was published (the " Delegated Regulation"). The Delegated Regulation supplements the Regulation (EU) 2017/2402 (the (“ EU Securitisation
Jan 25, 2024BSP Newsletter | January 2024
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Jan 24, 2024Circular CSSF 23/844 | Reporting obligations for Alternative Investment Fund Managers
On 2 November 2023, the CSSF issued circular CSSF 23/844 (the " Circular") aiming to clarify the technical details regarding reporting obligations for Alternative Investment Fund Managers (“ AIFMs”). The Circular repeals the CSSF circular 14/581. Reporting obligations of AIFMs Directive 2011/61/EU
Jan 23, 2024Luxembourg tax authorities issued FAQ on new obligations of digital platform operator
Key takeaways The Luxembourg tax authority published a “frequently asked question” (“ FAQ”) on 7 December 2023 providing guidance on application of the new EU obligations of digital platform operators (Council Directive (EU) 2021/514) on administrative cooperation in the field of taxation
Jan 22, 2024ESMA finalises the draft RTS on ELTIF
Background On 19 December 2023, ESMA published a final report on the proposed level 2 regulatory technical standards (the “ Final Report”) for Regulation (EU) 2015/760 of 29 April 2015 on the European Long-term Investment Fund , as amended (the “ ELTIF Regulation”). The amended ELTIF Regulation
Jan 19, 20242023 CSSF FAQ Virtual Assets UCI updates: Navigating new waters in Virtual Asset Management
The Virtual Assets FAQ, a go-to resource for understanding virtual assets in fund management, has seen notable changes in 2023. Here is what you need to know. Revised Question 2 : The New Rulebook for Virtual Asset Investments Question 2 has undergone a significant revamp in 2023. It is not just
Jan 19, 2024MiFID II, MiFIR, BMR and Crowdfunding Regulation | ESMA updates
Updates on MiFID II and MiFIR On 15 December 2023, ESMA updated their questions and answers (“ Q&A”) on Directive 2014/65/EU of 15 May 2014 on markets of financial instruments (“ MiFID II”) and Regulation (EU) 600/2014 on markets of financial instruments (“ MiFIR”) with respect to the investor
Jan 19, 2024Financial services contracts concluded at a distance | New directive enters into force
Introduction The use of digital tools by consumers has been increasing at a rapid pace in recent years, including for the conclusion of financial services. It is in this context that the European Commission has taken action to increase consumer protection by updating the EU’s legislative arsenal
Jan 19, 2024Regulation on European Green Bonds | Entry into force
Entry into force of new regulation and its purpose On 30 November 2023, Regulation (EU) 2023/2631 of 22 November 2023 on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds (the “ EuGBs Regulation”) was published in the
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